Read the following statements and choose the correct option: 1. In 1997, an American company got patent rights on basmati rice through the US patent and trademark office. 2. Biopiracy is the term used to refer to the use of bio-resources by multinational companies and other organisations without proper authorisation from the countries and people concerned without compensatory payment. 3. Most of the industrialised na

Step-by-step solution

In 1997, an American company got patent rights on basmati rice through the US patent and trademark office. Biopiracy is the term used to refer to the use of bio-resources by multinational companies and other organisations without proper authorisation from the countries and people concerned without compensatory payment. Most of the industrialised nations are rich financially but poor in biodiversity and traditional knowledge. In contrast the developing and the underdeveloped world is rich in biodiversity and traditi